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Title: Lessons From The Sub-Prime Crisis

Essay Details

Subject: Business
Author: William W
Date: April 5, 2017
Level: University
Grade: A
Length: 4 / 916
No of views: 0
Essay rating: good 0, average 0, bad 0 (total score: 0)

Essay text:

Lenders were willing to make loans to borrowers with high credit risk as they were confident that the U.S housing boom was going to last and that gave them protection against defaults. However the good days did not last. As interest rates increased, many borrowers found it hard to refinance their loans and as a result, forced to default on their payments...

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Delinquency rate rose to 21% in January 2008 and 25% in May 2008. With increased foreclosures, the housing prices started to plummet. Till here, the situation looked localized and deemed unlikely to have a significant impact on the broader economy. However there is more than meets the eyes. While lenders are busy making loans to home owners, there is another activity going on within the investment banks – securitizations of the mortgages...

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